Pune: The much-awaited arrival of new red onions has begun at Pune's Market Yard, marking a significant shift in onion prices, which had been steadily climbing due to supply shortages.
As the new season's harvest enters the market, onion prices, particularly for the old stock, are beginning to show signs of relief. With increased availability, both wholesale and retail prices are showing a notable dip, providing a much-needed reprieve to consumers who have been grappling with high costs.
For weeks, onion prices have been on the rise, driven by damage to crops in southern Indian states, leading to a surge in demand for onions from Maharashtra and Madhya Pradesh. However, this week's developments in the wholesale market have put a brake on the price escalation.
The arrival of stored old onions, coupled with the entry of freshly harvested ones, has led to a Rs 6 decrease in the wholesale price of old onions. Last week, old onions were priced between Rs 44 to Rs 48 per kilogram, but they are now trading between Rs 35 to Rs 42 per kilogram.
The introduction of the new crop has set wholesale prices for fresh onions between Rs 20 to Rs 35 per kilogram, depending on their quality.
This has also had an impact on retail prices, with onions that were previously being sold at Rs 70 to Rs 80 per kilogram now available for Rs 50 to Rs 60 per kilogram in retail outlets across the city.
Market reports indicate that last Sunday (September 22), around 70 trucks of onions arrived at the Market Yard, but by today (29th August), the volume increased to 100 trucks, including 10 carrying new onions.
Over the past few days, trucks loaded with fresh onions have started arriving from various regions, including Karnataka’s Hubli and Purandar taluka in Maharashtra.
If the weather cooperates and the rains subside, traders expect even more high-quality onions to enter the market in the next four to five days.
This increased supply has prompted traders who had stored old onions in warehouses to bring them into the market, further boosting supply and reducing prices.
Balasaheb Rakshe, a prominent onion trader at Market Yard, confirmed the trend, stating, “The arrival of new onions has begun, and this will increase in the coming days, likely leading to further reductions in prices.”
